Frequently Asked Questions
The adopted budget for FY 2024 (Oct. 1, 2023 to Sept. 30, 2022) is $543.9 million. View FY 2024 Adopted Budget Book
The City of Round Rock is currently in the process of compiling the FY2025 budget for the period of Oct. 1, 2024 through Sept. 30, 2025. Visit www.roundrocktexas.gov/budget to learn more.
This is actually a slight decrease from last year’s total budget of $557 million, due to FY23’s emphasis on one-time capital projects.
On Aug. 10, City Council adopted a max tax rate of 34.2 cents per $100 of valuation for Fiscal Year 2023.
The tax rate for FY24 is the same as FY23’s, and it’s the lowest proposed among cities in our area; however, the Fiscal Year 2024 rate is higher than the “no new revenue” rate of 31.6 cents, which would raise the same amount of revenue as last year on existing property based on this year’s property valuations. The additional 2.6 cents is needed to pay for additional public safety positions with competitive salaries, as well as additional staffing for parks, library and other departments.
The median taxable home value in Round Rock for FY 2024 is $363,396. The owner of a median taxable value home will pay $104 per month in City property taxes in FY24. The tax rate resulted in a $8 per month increase.
The City’s General Fund is funded by three types of revenues: property tax, sales tax and other revenue sources.
Property Tax: Single family homeowners will pay $31.9 million in City property taxes in FY 2024, just 20% of the total General Fund budget. The City’s property taxes help cover many of our core services including police, fire, transportation, parks and recreation and the library. Over the past five years, the City has opened four fire stations, added 32 new firefighters and staff, added 33 new police officers and staff, and has opened the new Public Safety Training Facility – all thanks in part to property tax revenues.
Sales Tax: For every $100 in purchases by visitors, residents, and businesses, the City collects $2 in sales tax revenues. The General Fund gets $1.50 and the remaining 50 cents goes to the Type B Fund to pay for roads and economic development. Round Rock’s unique mix of destination shopping and corporate headquarters generates sales tax revenues that help reduce the property tax burden.
Other: Over 100 different revenue sources make up the remainder of General Fund revenues including fees for the City’s many recreation programs, building permits, and other services. Some of these are large, like the Electric Franchise Tax revenues budgeted at $3.9 million and ARPA reimbursements budgeted at $2.0 million for FY 2024.
Visit www.roundrocktexas.gov/budget for a timeline of upcoming public meetings related to the budget.
You can also leave a comment on the City’s social media or email the City Council at citycouncil@roundrocktexas.gov.
